KGHM, Europe's No. 2 copper producer, put its McCreedy West
copper mine in Canada on "care and maintenance" - suspending but
not shutting down operations - last month as part of a
cost-cutting plan.

"At this point, we are not planning to put any more assets
on care and maintenance, we are not planning to sell any assets,
not planning to limit our investment spending and we are not
putting on hold any of our projects," said CEO Herbert Wirth.

"We don't want to survive, we want to develop."

Major miners including Glencore and U.S.-listed
Freeport have also cut production as prices fall towards
levels where some operations are no longer economically viable.

Benchmark three-month copper on the London Metal Exchange
was at $5,334.5 a tonne by 1200 GMT on Monday.

Wirth said he expected copper prices of between $5,000 and
$5,200 a tonne next year, with the state of the Chinese economy
and U.S. Federal Reserve's interest rates decisions expected to
remain key drivers of markets.
Continuación...